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A recent report by the Access to Medicine Foundation (ATMF) highlights a significant decline in non-exclusive voluntary licensing (NE-VL) agreements within the global pharmaceutical industry, dropping from six in 2022 to just two in the past two years. This slowdown, attributed to companies underestimating the value of expanding access to medicines, poses risks for Indian drugmakers involved in global licensing and technology transfer initiatives. The report emphasizes the need for pharmaceutical firms to prioritize low- and middle-income countries (LMICs) and improve access to essential treatments, particularly in regions like sub-Saharan Africa. Despite public health organizations identifying key patented treatments for licensing, only 43% of clinical trials occur in LMICs, which house 80% of the global population. The report ranks Novartis as the top company for governance of access, research, and product delivery, underscoring the urgent need for enhanced collaboration between industry, governments, and communities to address health inequities. 
Published: Nov 21 2024, 9 ameznews.inNegotiations for the proposed India-EU Free Trade Agreement (FTA) are set to prioritize investment liberalization, focusing on Foreign Direct Investment (FDI) rules, while excluding investment protection and arbitration, which will be addressed separately in a bilateral investment treaty (BIT). Unlike the recent FTA with the European Free Trade Association (EFTA), which included minimum investment commitments, India is unlikely to secure similar guarantees from the EU due to legal constraints that place such matters under individual member states' jurisdiction. The Finance Ministry advocates for separate BIT negotiations to avoid complications from international arbitration, a stance shaped by past losses in arbitration cases. The EU seeks a distinct investment protection pact to expedite finalization regardless of FTA progress. Since resuming FTA talks in June 2022 after a nine-year hiatus, both parties have been clarifying the relationship between the FTA and the investment protection agreement.
Published: Dec 03 2024, 9 pmeznews.inIn a recent update to the Lok Sabha, HD Kumaraswamy, Minister for Heavy Industries and Steel, revealed that as of November 28, no disbursements have been made to the 82 approved applicants under the Production Linked Incentive (PLI) Auto scheme, which was launched in September 2021 with a budget of ₹25,938 crore. The scheme aims to enhance the manufacturing of Advanced Automotive Technology (AAT) products and promote localization in India. Additionally, no funds have been disbursed under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI), initiated in March 2024, or the PLI scheme for Advanced Chemistry Cells (ACC), approved in May 2021. Kumaraswamy noted that the SPMEPCI offers reduced customs duties for imported electric cars, while the ACC scheme is still in its gestation period, expected to conclude by December 2024. The government continues to promote the purchase of domestically produced electric vehicles through various initiatives.
Published: Dec 03 2024, 9 pmeznews.inTraders in West Bengal have called off their strike over the sale of potatoes to other states following assurances from the state government that it will consider lifting restrictions on inter-state trade. The decision to resume operations means that cold storages will begin releasing potatoes from Wednesday night, with normal market conditions expected to return by Thursday, according to Lalu Mukherjee, secretary of the Paschim Banga Pragatishil Alu Byabsayee Samiti. The strike was initiated after an inconclusive meeting with Agriculture Marketing Minister Becharam Manna, which had led to a halt in potato supplies and a subsequent rise in retail prices, which had already been around ₹35-40 per kg. The Mamata Banerjee-led government imposed the restrictions to manage stock levels and control prices, as West Bengal typically exports 20-25 lakh tonnes of potatoes annually to states like Odisha, Bihar, Jharkhand, and Assam.
Published: Dec 03 2024, 8 pmeznews.inThe Indian government has unveiled a draft "National Policy Framework on Agricultural Marketing," aimed at enhancing market access for farmers and ensuring they receive optimal prices for their produce. This initiative is seen as a continuation of agricultural reforms following the controversial withdrawal of three farm laws in 2021. The framework encourages states to develop their own policies aligned with national guidelines, promoting a unified market through improved efficiency and competition. Key proposals include the establishment of an "Empowered Agricultural Marketing Reform Committee" to foster consensus among states and the integration of various market types with the e-NAM portal, enabling farmers to sell directly across the country. While the current minimum support price (MSP) system remains unaffected for now, the government is seeking public feedback on the draft by December 10, 2024, as it aims to create a more transparent and competitive agricultural marketing ecosystem.
Published: Dec 03 2024, 8 pmeznews.inThe Food Safety and Standards Authority of India (FSSAI) has issued a directive to e-commerce platforms, including quick commerce firms, mandating that they ensure compliance with food safety regulations. In an advisory released on December 3, 2024, the FSSAI emphasized the need for e-commerce players to align product claims with physical labels and implement mechanisms to adhere to the Labelling and Display Regulations 2020. The authority highlighted the importance of training delivery personnel in hygiene practices to prevent food contamination and stressed that food and non-food items must be delivered separately. Additionally, the FSSAI requires platforms to display valid FSSAI licence and registration numbers prominently and ensure that food products have a minimum shelf life of 30% or at least 45 days before expiry at the time of delivery, to maintain consumer confidence and safety in the growing online food sector.
Published: Dec 03 2024, 8 pmeznews.inIn a recent meeting with the Finance Commission, West Bengal's Chief Minister Mamata Banerjee advocated for an increase in the vertical devolution of central taxes to states from 41% to 50%. The Chairman of the 16th Finance Commission, Arvind Panagariya, noted that many states have echoed this demand, with some suggesting a rise to 45%. Additionally, the government proposed incorporating "urbanisation" as a new criterion for the horizontal distribution of central tax shares. West Bengal has requested a 7.5% weightage for urbanisation and an increase in the demographic weightage from 12.5% to 20%. Banerjee also raised concerns about the financial burdens placed on states by centrally-aided schemes. Panagariya assured that the Commission would thoroughly assess these proposals after consulting all 28 states, while the panel also engaged with trade bodies and political representatives during the discussions.
Published: Dec 03 2024, 8 pmeznews.inThe Competition Commission of India (CCI) has granted approval for MUFG Bank, a wholly-owned subsidiary of Japan's Mitsubishi UFJ Financial Group, to acquire a stake in Shiprocket Private Ltd, a logistics platform facilitating services for businesses both domestically and internationally. Additionally, the CCI has sanctioned the subscription of optionally convertible debentures (OCDs) of GMR Infra Enterprises by the Platinum Stone A 2014 Trust, which is linked to the Abu Dhabi Investment Authority (ADIA). This deal will enable the trust to acquire approximately 9% of GMR Airports Ltd's shareholding from its promoter, GMR Enterprises, with the shares pledged to secure the OCD subscription. GMR Airports, a public company, operates several airports in India, including those in Delhi, Hyderabad, and Goa, while the trust itself currently has no operational business activities.
Published: Dec 03 2024, 8 pmeznews.inIn a statement to the Lok Sabha, India's External Affairs Minister S. Jaishankar emphasized that maintaining peace and tranquility in border areas is essential for the development of bilateral ties with China. Following the conclusion of the disengagement phase at the border, Jaishankar noted that India can now approach other aspects of its relationship with China in a measured way, while prioritizing national security. He highlighted a recent meeting with Chinese Foreign Minister Wang Yi, where it was agreed to convene Special Representatives and Foreign Secretary level discussions soon. Jaishankar reiterated that the 2020 Galwan Valley clashes, which stemmed from troop buildups in eastern Ladakh, underscored the need for effective management of border activities. He expressed a commitment to engage with China to establish a fair framework for boundary settlement, asserting that normal relations cannot exist without peace along the border.
Published: Dec 03 2024, 7 pmeznews.inA recent report by Gujarat Maritime University and the International Seafarers Welfare and Assistance Network (ISWAN) has highlighted alarming recruitment fraud in India's maritime sector, affecting thousands of seafarers. The study reveals that unlicensed recruitment agencies are charging exorbitant fees for non-existent or unsafe jobs, leading to financial exploitation and hazardous working conditions. Since 2019, ISWAN's SeafarerHelp helpline has addressed 475 cases involving over 1,000 Indian seafarers who have fallen victim to these scams. The report calls for urgent reforms, including amending the Merchant Shipping Act of 1958 to impose stricter penalties on unlicensed agencies and enhance protections for seafarers. It emphasizes the need for a designated fund to support those affected and urges the Directorate General of Shipping to collaborate with welfare organizations to provide necessary assistance. The report underscores the critical need for regulatory changes to safeguard the rights and welfare of seafarers in India.
Published: Dec 03 2024, 7 pmeznews.inUnion Road Transport and Highways Minister Nitin Gadkari has urged municipal corporations to convert organic waste into hydrogen to enhance cost efficiency, emphasizing the government's commitment to green hydrogen. Speaking at the IVCA GreenReturns Summit 2024 in New Delhi, Gadkari highlighted the need for start-ups and the domestic industry to reduce the costs associated with hydrogen filling stations. He expressed confidence that India could soon rival China in the green hydrogen sector, driven by affordability and innovation. Additionally, he called on electric vehicle manufacturers to increase production, citing strong demand for high-quality vehicles in the Indian market. Gadkari noted the significant growth of India's automobile sector, which has risen from the seventh to the third largest globally, surpassing Japan in recent months, and underscored the vast potential for further expansion both domestically and internationally.
Published: Dec 03 2024, 7 pm
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